Quote Originally Posted by siriusly_invested View Post
Wow, that's a pretty attractive P&F pattern, Denco. I recall times in the past when I would have jumped at a double-top breakout. this time, not only am I fresh out of dry powder, I'm seeing several mixed signals non the least of which is the very rapid buildup from 3.07 to 3.43 in such a short period of time. Consequently, my gut feeling is that there will be at least a 50% retrace very soon which takes the price at least temporarily down in the 3.25 range again. My money says it is wiser to wait for that retracement rather than to jump on the apparent entry signal at the double-top breakout. Maybe I'm wrong, and if so then I wish you and others good fortune if you bite on this bullish signal.
I agree SLY...it has to retrace soon. I think we could hit 3.45-3.50ish before a more significant retrace. Either way I am still LONG, am not jumping in here, just staying put until it rolls. At that point I will lighten up and look to re buy my overcore at lower levels. It could reverse quickly after hitting a particular price point such as 3.45 or 3.50. I am closely watching.